- So, this fear you know, it's holding us back.
Which most of the time it's not true.
It's actually not true, it's a made up fear in our minds.
Let me address something from the clients point of view.
Let's look at the situation realistically and accurately.
Not in our fantasy world, but realistically.
People will not refer others to you if they
aren't confident that the result is going to be positive.
Yes? - Yes.
- They're just not gonna do it.
So think of the last time you refer somebody else.
Let me give an example.
Think of a time where maybe you
refer somebody else to a vendor.
And then your friends say great,
you know I trust your recommendation.
And they do some business with that
vendor or that service provider.
And then, they come back to you and
say you know what, it's not what I expected.
I paid them thousands of dollars
and I'm not getting what I want.
How do you feel?
- [Audience Member] You feel like shit.
- You feel like shit.
- [Audience Member] You feel ashamed.
- You feel ashamed, you feel kinda sorry,
you feel like (grunts) right?
You're disappointed you hurt the relationship.
Now, your friend who's taken that referral
knows it's not your fault, but it kind of is.
- [Audience Member] Yeah, it is.
- It kind of is, because they take your recommendation
and they pay this person.
So, now you're kinda pissed,
it's like what the hell it's my friend.
And you go talk to this vendor and say
hey, what the hell happened man?
I send you a client, I send you a good friend,
I send you a referral,
how come you didn't treat them nicely?
Oh I did my best, and this and that.
They're a pain in the ass, you'll know.
(audience laughs)
So who's fault?
- [Announcer] The King of High-Ticket Sales.
World's Highest-Paid Consultant.
Media Celebrity.
Multi-Millionaire Entrepreneur.
Acclaimed TEDx Speaker.
International Best-Selling Author.
Dan Lok.
So understand that when you are--
When someone is giving you a referral,
it's almost as big as making a purchase.
So that's the risk they have to deal with on their end.
It's not just a nice--
Oh yeah send me some referrals.
It's not like that.
Because who knows how long it took
them to develop that relationship?
Maybe years.
And because one incident--
It might affect the relationship.
So, think of that's the risk they're taking.
Can you see why they're hesitant about it?
- [Audience] Yes.
- Can you see why you are hesitant about it?
- [Audience] Yes.
- That's why a lot of times, family and friends--
Family and friends that's nice,
but if they're not at the best at what they do--
You know, just because I know you doesn't mean
I'll refer people to you.
Write that down.
Just because they know you doesn't
mean they'll refer people to you.
I'll refer people to my competitors
knowing that they will do a better job.
That's perfectly fine.
Versus refer to somebody that I
might have a financial interest,
I might get paid a referral fee or anything like that,
but knowing that they are not going to do a shitty job,
you don't wanna do that.
We don't wanna do that.
So knowing that's the risk your clients are taking,
and that's why they're hesitant, they hesitate,
they think twice, and it's not something
that they are very willing to do.
Think of that in your own life.
People ask you, imagine here, at this meet up,
at this meeting, that you just meet somebody
through the networking, and someone just asked you,
hey I provide ABC service,
do you know anybody who needs ABC service?
You're like whoa, slow down man, slow down.
That's almost worse than asking for you to buy.
Because asking for you to buy sometimes it's
just I am at a loss if I made a stupid decision,
but if I refer you to somebody else that's a bigger deal.
Does that make sense?
It's a bigger deal.
How many of you would rather,
I would rather I take the loss
than my friend taking the loss.
Yeah, it's a big deal.
So, just knowing that's what we're dealing with.
That's why people have this fear,
and that's why the traditional referral strategy
of asking just for a referral, it doesn't work.
Because you're going against human nature.
Naturally, we don't want to refer.
Write that down.
We don't want to refer,
because it is a risk we don't wanna take.
Things are going well, things are happening in my life,
things are going well, why would I would I wanna
take that stupid risk?
It makes no sense.
So knowing naturally we don't like to refer.
So start with that.
Don't assume, oh yeah I provide good
service people wanna refer.
No they don't want to refer.
Start with that.
I have a lot of value.
They don't want to refer.
Unless we do something about it.
So we have to be proactive, not passive.
That's why passive referral, just sitting
there and wait, it will never work.
Just thinking that you are doing a phenomenal job,
and you may do a phenomenal job,
just because of that alone will it get you a referral?
It's a bad assumption.
Does that make sense?
- [Audience] Yes.
- It's a bad assumption.
So in order to get referrals, you need to be referable.
Like, duh!
In order to get referrals you need to be referable.
To be referable you need to be reliable,
and able to deliver great service and products.
That is the bear minimum.
It's a prerequisite.
It's a bare minimum of what you gotta do.
If you don't deliver good product and
services forget about getting referrals.
That's a bare minimum.
I call that your Refer-ability Factor.
How referable are you?
Unfortunately, most entrepreneurs,
they are not very referable.
They're flaky, they do shitty work,
they don't keep their promises,
why the fuck would I refer anybody to you?
Hello?
Just because you ask.
You think the people you deal with in the business world,
just think about it, most of them,
flaky, don't show up on time,
don't deliver what they promise,
they just do shitty work, average, mediocre,
and they wonder how come I don't get more referrals?
When I say the bare minimum prerequisite is
that you do excellent work, let's start with that.
So let's look at ourselves to start with.
Are we delivering unique value?
Are we delivering massive value?
Are we providing exceptional products and services?
That's the base, that's the base.
How referable are we?
The question that answers the question
can you really deliver what you say you will deliver?
It's as simple as that.
Can you deliver, really deliver what you say you'll delver?
And you'll be surprised how many people in the business
world don't deliver on what they say they'll deliver.
They can't even--
Like the other day I was on a phone call,
and then there was this guy saying that
I will call you back tomorrow morning.
He can't even fucking do that.
They can't even keep a simple promise.
Say I'll call you back in the morning Dan,
don't call me.
They can't even do that.
I'm always shocked.
How are they running the business?
This is how you do business,
and you want me to give you a whole
bunch of money to buy your service
and buy your product?
You can't even return my call.
And you promise you'll return my call.
So can you really deliver on what you say you'll deliver?
Your partners, your referral partners,
need to trust that not only can you provide
great products and services,
but that you are consistent.
What's the word?
- [Audience] Consistent.
- That's the key in living up to high business standards.
Think of McDonald's.
If McDonald's is selling a franchise,
what are they selling?
(audience member speaks off microphone)
No, no, they're selling a franchise.
They're selling a money machine.
Because, I would challenge you,
walk up to any McDonald's, and you go to the,
what is that, the counter yes,
and you ask can I see your boss?
He's not here.
Running by a bunch of high school kids.
A multi-million dollar operation.
Consumers, what are they selling?
Consistency.
Food sucks, but at least it's consistently suck.
You kinda know, if I get burger, if I go to US,
I go to New York I get a burger there
it's kinda roughly, it's gonna taste the same.
More or less.
If I go to Hong Kong, burgers, eh more or less the same.
It's consistent.
You know what to expect.
You'll be very surprised how much
we value actually, consistent.
Consistency, people want consistency.
People don't like to change a whole lot.
So are you consistent in living
up to high business standards?
Or are you just occasionally consistent?
If that's even a word, occasionally consistent.
So are you consistent in living to high business standards?
So let's see some ideas to get you started.
When you say well, this is confidential,
do you actually keep it confidential?
Living up to your brand, to your brand, to branding.
Consistency in follow up, a system of
regular communication with clients.
Consistent building practices, ensuring clients
get value and your pricing doesn't vary.
Not like okay this client I'm gonna charge you five grand,
and then you, I'm gonna charge you seven grand,
the other person, I'm gonna charge you two grand.
Is it consistent?
Consistent billing.
Do you have a satisfaction guarantee, 100%?
How you communicate with the clients,
when do you communicate with the clients,
how you promote yourself,
and how you showed up at a networking event
prepared, on time and well presented.
It's like, for you to dress in business,
it's not for me, it's for you.
Because you never get a second
chance to make a first impression.
And how are you going to build your
network if you show up in jeans and shirts?
I'm gonna look good no matter what.
(audience laughs)
So it's not for me, it's for your benefit.
You show up professionally, I'm training you
to be prepared that it's very rare, very rare
that you see me in a business environment
that I don't dress in suits.
If I'm having fun and all this stuff it's fine,
you know casual, I like casual.
But in business setting, business.
Oh but Dan, what about Richard Branson?
He dress casual, no tie.
That's fucking Richard Branson okay?
(audience laughs)
Yeah, if you're a billionaire,
you can be in your underwear as far as I'm concerned.
It doesn't really matter.
When we're not there yet, let's dress in business okay?
It's like, people ask me, oh you know Dan
do you believe in Fung Shui?
How many of you know Fung Shui is?
Yeah, it's like how you arrange your home,
and you attract prosperity and luck.
I say to people you know, it doesn't really
matter if you believe it or not.
In business, write this down,
I always believe I operate based on
the Principle of the Slight Edge.
The Principle of the Slight Edge.
There's a great book out there called the Slight Edge.
The Principle of the Slight Edge.
Meaning that if this decision,
will this decision make me poorer or richer?
More successful or less successful?
So, Fung Shui, believe it or not,
if I arrange some stuff in my home,
furniture wise, I add a tree,
that will attract more prosperity,
why the hell not?
Why would you not give yourself that advantage?
It doesn't hurt.
You're gonna have your furniture there anyway.
So it's this way facing that side
not facing that way, who cares?
It's the same fucking furniture.
(audience laughs)
Same room, so what difference does it make?
So why would you not give yourself that edge?
So, always about the edge, it's like--
The other day, just two days ago,
I was in Indigo, and I saw a gentleman in there,
he was business section, he was looking at a book.
He's looking at this book, it's like picking a
book and he's looking in there,
I forgot what the book title is,
but a business book.
He's looking through it, and then he's put it back.
And he's looking around, and I was looking at my books,
and he pulled out the same book again,
and he's looking through it, and he put it back.
So I can see he's thinking if he should buy the book.
And I was looking at him, and said well
are you like, what's going on man?
Are you thinking of buying the book?
Said yeah, but you know I think I
might get it cheaper soft cover.
It's a hard cover version.
I can save a few dollars.
Have a good day.
That's what I mean.
What's the decision?
There's no decision.
That's a $20 book.
Like what's the decision.
It's puzzles me when people agonize,
and they can't make a decision based
on a very simple thing like would this
give me a slight edge in life and in business.
It will?
Get it, do it.
What's to still think about?
How could you be worse off?
Like the Fung Shui thing, how could you be worse off?
Just tell me.
But I don't believe in it.
I don't care if you believe--
Here's the thing, maybe I believe in it
I don't believe in it, but if I believe by
arranging the furniture in a certain way it brings me luck,
that becomes self-fulfilling prophecy,
hey you know what, that's pretty awesome to me.
It works for me.
Believe it, don't believe it,
doesn't really matter it works for me.
That's all that matters, make sense?
- [Audience] Yes.
- Slight Edge.
So let's do self-audit quickly okay?
I want you to kind of get into,
let's get into groups of two, okay?
I want you to find a partner,
preferably someone you don't know.
Cause people you know, usually
they're not very honest to you right?
So people you don't know, not people you come with,
people you don't know.
And I want you to kinda ask yourself
these three questions, and write those down.
So your partner, listen, listen, listen.
Your partner will ask you the questions,
and then you'll kinda answer it and
as you answer it you'll kinda jot down the notes.
Question number one, what are some areas
where your service delivery is inconsistent
or has room for improvement?
Time to be honest.
Take a critical view, critical view of your business.
What service delivery standards do you
currently or consistently uphold?
What you're delivering.
And also going forward, what business
standards are you willing to create
and commit to deliver if you want more referrals?
So those three questions, let me give
you say five minutes on that.
Do you wanna ask me a question?
You got questions, I got answers.
Comment below, in the future I'm gonna
take some of these questions,
and make future video based on it.
If you're question is good enough,
I might just feature you in one of my upcoming videos.
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